What should I counter offer??

[jeebuss31]

Hey everyone, looking to buy a house in ohio. It's a 5 level multi home, a total of 3135 sq ft(not including finish basement). We're not going through a realtor to get more discount on the home, since we're building it. Here is the asking price:

$451,086(base price, with upgrades and a structural change)
-$19,291(no realtor)
-$15,000

Offer-$416,795

Now I counter it with $375,000 and they counter back and said they can take another $12,000 off and can't go less than $404,795.

My question is if I offer $6-7,000 less and willing to walk away, will they accept it? Or should I ask them to pay down 2 points on a 30 yr fix?(roughly $6400) Do sellers mean it when they can't go any lower?

On the side note, this is a new subdivision. Houses range from $392-538K.

[Brokemofo]

I've never heard of new home builders wacking $46k off the base price of a home before. Must be real hard to sell those homes. You got nothing to lose by asking for what you want, so just ask.

[jeebuss31]

Originally Posted by Brokemofo

I've never heard of new home builders wacking $46k off the base price of a home before. Must be real hard to sell those homes. You got nothing to lose by asking for what you want, so just ask.

Well the base price and adjusted features includes:
-Granite tops in 3 full baths, 2 1/2 baths, and kitchen
- Extend master bedroom and adding 12x13 closet
- Hardwood floors in Kitchen,Great room, dining
- Finish lower level with Wet Bar
- Extend great room by 1 foot


Now, if I had a realtor I know I wouldn't get this price. So I'm trying not to think of the discount price for not having a realtor. Am I truly taking advantage of the buyers market? I don't know in this situation.

[ScrimpAndSave]

Sounds like an amazing house for the money!

[maat55]

Offer 398,500 and see what happens.

[Ima saver]

I think they would take $400,000 and that is a very good price!

[LuxLiving]

I may be way off in this as I've never bought a new house from a builder, but on such a deal who pays the closing costs? If it is normally the buyer, I'd ask them to pay for that in my counter-offer.

So, 402 plus they pay the closing.

[jeebuss31]

Originally Posted by LuxLiving

I may be way off in this as I've never bought a new house from a builder, but on such a deal who pays the closing costs? If it is normally the buyer, I'd ask them to pay for that in my counter-offer.

So, 402 plus they pay the closing.

I checked with my local bank and closing cost on a $400k house is $1800. Now, if I wanted to buy down 2 points it would be around $7000-$8000.

I wonder if I;m truly getting a deal. I know a lot of spec homes and resale homes are getting hurt and willing to deal. If the market was better, I wonder if they would still offer the same price?

[jIM_Ohio]

If you are willing to walk away, do it. I know someone which did that and same builder called 4 days later with a much better offer.

1/3 of the house price is profit (from a builder). Be willing to walk away.

[maat55]

To get the best deal you have to willing to walk away. If your heart is set on a certain property, you will probably pay a little more.

[BillsGirl]

I am sooo mad I just gave a huge responce and my IE closed on me..... sorry I am going to try again here!

There is alot of public information on the internet such as what someone pays for their house, you generally need to know the county they are in then you can do a property search from there, this is useful in finding out what THEY paid for the house and therefor giving you a heads up on whether they can go lower in the asking price or not

some examples of the sites where you can get this info is here, this is the site for the county I live in here in mn Beacon Home
another example of a site for this info in mi https://is.bsasoftware.com/bsa.is/As...pid=0&unit=383

okay this is for fl records I found this by accident on google Calhoun County Property Appraiser's Office

[jeebuss31]

Thanks for the repost!!

I looked at the public forums and the house next us is 476k. Some others are 392k,416k,418k,456k,492k,538k.

I think my offer will be 397k. I know it's about 7,000 less than what they want, but we have a lot of events going on. We have a wedding in may2009,honeymoon,downpayment(we're at 20%,but want 30% by the time we close),closing costs and other variables. I know business is business and I hope the builder understands.